by –News Direct–
Santacruz Silver Mining executive chairman and interim CEO Arturo Prestamo joined Steve Darling from Proactive to provide an exciting production update on the company's various mining operations.
The focus was on the Bolivar mine, Porco mine, Caballo Blanco Group of mines and the San Lucas feed sourcing business in Bolivia, and the Zimapan mine located in Mexico.
In his update, Prestamo revealed some impressive figures that underscore Santacruz Silver Mining's strong performance. At the Bolivar mine, a substantial 77,298 tonnes of mineralized material were processed in the third quarter of 2023, resulting in the production of a remarkable 1,343,000 silver equivalent ounces. These figures represent a substantial 16% increase in material processing and a substantial 40% increase in silver equivalent ounces compared to the second quarter of 2023.
The Zimapan mine in Mexico revealed equally impressive results. Mining crews at Zimapan processed a significant 192,158 tonnes of mineralized material during the same period and achieved a production output of 1,183,606 silver equivalent ounces. These figures reflect a notable 12% increase in material processing and a substantial 35% increase in silver equivalent ounces when compared to the second quarter of 2023.
One remarkable highlight of Santacruz Silver Mining's performance is the company's cumulative production for the year. So far in 2023, the company has successfully produced nearly 17 million silver equivalent ounces, including a substantial milestone of just over 5 million ounces of silver.
Additionally, Prestamo highlighted the significant progress of the integration ramp that connects the Tres Amigos and Colquechaquita mines at the Caballo Blanco Group of mines. This project is advancing impressively and is now at a remarkable 73% completion rate, signaling the company's commitment to optimizing and expanding its mining operations.
Prestamo emphasized that the company is continuously reviewing and streamlining its operations. The objective is to achieve greater efficiencies and cost reductions, ensuring that Santacruz Silver Mining remains a competitive and sustainable player in the mining industry.
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View source version on newsdirect.com: https://newsdirect.com/news/santacruz-silver-production-remains-steady-as-company-reports-3q-production-results-868747669
Santacruz Silver Mining Ltd
COMTEX_442675917/2655/2023-10-30T13:56:07
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.